SINGAPORE (Aug 10): Kingsmen Creatives reported 2Q17 earnings dropped 25.7% to $2.37 million from $3.18 million a year ago.
This came on the back of a 10.4% y-o-y decrease in revenue to $78.8 million compared to $87.9 million in 2Q16.
The Exhibition & Thematic division saw revenue of $34.2 million, a decrease of 24.5% from $45.3 million recorded in 2Q16, due to the completion of several key projects in 2016.
The Retail & Corporate Interiors division recorded 2Q17 revenue of $38.9 million, an increase 6.3% compared to $36.6 million in 2Q16.
Meanwhile, Research & Design division registered a revenue of $3.7 million in 2Q17, an increase of 9.2% from $3.4 million the same period last year.
The Alternative Marketing division achieved a revenue of $1.9 million in 2Q17, a decrease of 24.5% from $2.5 million in 2Q16.
In 2Q17, the group incurred 1.5% lower operating expenses in 2Q17 at $18.3 million compared to $18.6 million the previous year.
The group is declaring an interim dividend of 1 cent, which will be paid on September 19, 2017.
Andrew Cheng, Group CEO of Kingsmen says, “Amidst the uncertainties and changes in our markets, we see opportunities for us to grow and prosper. Our capabilities are evolving and becoming stronger, as we adapt to changes in the marketplace and clients’ needs.”
The group’s entry into the new intellectual property development and ownership business areas should also provide new and exciting possibilities and earning streams.
Shares in Kingsmen Creatives last traded at 61.5 cents on Thursday.
